In the last 30 days, we have seen our nearby futures slip lower roughly 25c. Exports have been light. Generally, we do not see a lot of corn moved this time of year, but exports have been light nonetheless. Couple that with a softer local demand and we are looking at cash values that are less than what we were seeing at the end of harvest—still very profitable however. January will bring us our next crop report—historically a market mover. Until then, South America will be responsible for much of the market news. To sum it up, Argentina is having a rough go of it, but Brazil is going to have a very nice first corn crop. Keep an eye on what goes on in South American in the months to come.
6-month December 2023 corn chart below.
6-month November 2023 bean chart below.
Corn is tucked away in the bins, no major fireworks in the market as of late, and both the holidays and the new year are sneaking up fast. Please don’t fall asleep at wheel though. The upcoming crop will be another expensive crop to raise. Managing Risk is as important as it has ever been. Make sales when you can, not when you have to. Know where you are profitable. Get working orders in the system to capture your cash or futures targets if the market were to get there.
Please contact your Aurora Grain merchandiser with any question you have. Have a Merry Christmas and a Happy New Year!
Travis Kester – Grain Merchandiser